The price of kerosene, used by majority of Nigerians for cooking, has risen to as much as N300 per litre in many parts of the country, with many depots in Lagos not loading the product. Our correspondent gathered that the supply of kerosene by the...

President Muhammadu Buhari has approved the appointment of Dr Maikanti Kacalla Baru as the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC). Baru is taking over from Dr Emmanuel Ibe Kachikwu, the Minister of State for Petroleum, who now chairs the Board...

The recent militant attacks on oil and gas facilities may have prompted the Federal Government to look towards developing alternative sources of gas supply for power generation in the country. Government officials, who gave the indications on Wednesday at the Nigerian Gas Association’s Business Forum...

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio has explained how the Department of Petroleum Resources (DPR) undervalued eight Oil Mining Leases (OMLs) belonging to the Nigerian National Petroleum Corporation (NNPC). Speaking recently when he visited the Corporate Head...

...2.5b, wants culprits tried ...Senate begins review of report today The Economic and Financial Crimes Commission (EFCC) will soon embark on probe of erring oil firms in Nigeria over unremitted oil revenue to the Federal Government. To ensure that anyone found guilty of misappropriation of the country’s...

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Mr. Waziri Adio, said the Nigerian National Petroleum Corporation withheld $12.9bn revenue between 2005 and 2013. He added that the 2013 Oil and Gas Audit Report revealed that some government agencies like the NNPC and...